AMAT is a semiconductor stock that features regularly throughout my posts and it looks worthy of an update as the monthly Cup'n'Handle pattern looks to be playing out. I also take a quick look at the charts of a few ETFs: SMH, SOXL, FTXL and USD. This is simply a technical look at the charts of these semiconductor entities and traders need to carry out their own due diligence.
AMAT: I've been monitoring and posting about this potential monthly Cup'n'Handle for some months now and oit looks like it might be evolving.
AMAT monthly: watch for the Cup'n'Handle to develop as a breakout has a target of up near $85:
AMAT weekly: the first target though is up near the weekly 61.8% fib, circa $50:
AMAT weekly Cloud: a break and hold back above the weekly Cloud would be bullish:
AMAT daily: price action has been struggling at the daily 200 EMA but seems to have put that behind it just now:
AMAT 15 min: I would only look for LONG TC signals and I see there was one a couple of days ago that is up 2.6 R and is still going:
Semiconductor ETFs: Information on some of these ETFs can be found through the following link.
SMH weekly: this weekly chart mirrors that seen on the monthly AMAT chart. Watch for any new trend line breakout:
SOXL weekly: Direxion Daily Semicondct Bull 3X ETF: there has already been a triangle trend line breakout here but watch for any new make or break at the weekly 61.8% fib, near $160. A break and hold above might help underpin a push to the 100% fib, near $210.
SOXL weekly: chart from back when the breakout triggered:
SOXL weekly: chart as of April 1st:
FTXL weekly: this ETF is at a lower price point and so might offer opportunity if Semis keep going and trigger a breakout here. Watch for any momentum-based trend line breakout and, if this triggers, I would then look for a push up to the previous High, circa $36:
USD weekly: This ETF seeks to beat the Dow Jones U.S. Semiconductors Index by 200%. Watch for any triangle trend line breakout and, any bullish breakout, would bring the previous High, circa $55, into focus: